Report Overview

Saudi Arabia Home Appliances Market - Industry Trends & Forecast Report, 2030

Saudi Arabia Home Appliances Market size was estimated to be worth USD 2.84 billion in 2023. During the forecast period between 2024 and 2030, the Saudi Arabia Home Appliances Market size is projected to grow at a CAGR of 4.63%, reaching a value of USD 4.88 billion by 2030. Major growth factors for the Saudi Arabia Home Appliances Market include high disposable income and purchasing power of the consumers along with the launch of smarter and innovative home appliances integrated with advanced technologies, such as AI and IoT.

By volume, the Saudi Arabia Home Appliances Market size was estimated at 1.78 million units in 2023. During the forecast period between 2024 and 2030, the Saudi Arabia Home Appliances Market size is expected to expand at a CAGR of 4.67% reaching a volume of 2.45 million units by 2030. With growth in the housing sector, consumers are increasingly spending on eco-friendly and energy-efficient appliances that offer higher convenience in household chores, which is anticipated to drive the Saudi Arabia home appliances market during the forecast period.

Home Appliances – Overview

Home appliances are essential components of equipment that are used in houses and other spaces daily for a variety of chores, including cooking, cleaning, training, and food storage. Major appliances and small appliances are the two primary categories of home appliances. Major appliances are pieces of household equipment that are used for routine housekeeping chores, including cooking, laundry, preserving food, and other things. Small appliances save customers money on their monthly electricity bills since they utilize less energy than major appliances. Due to their lower starting costs, small appliances are frequently less expensive than bigger ones.

Saudi Arabia Home Appliances Market

Growth Drivers

Favorable Public-Private Initiatives and Launch of Smart Home Appliances

Saudi Arabia is a lucrative market for home appliances owing to high purchasing power of the consumers. As a result, the major Gulf nation attracts significant investments and initiatives, and industry players regularly launch their products in the market. For instance, Kyvol, a part of VanTop Group, a leading manufacturer of consumer electronics, announced the release of Cybovac S60, a next-generation 5-in-1 robot vacuum cleaner and mop on Extra, a home appliance retail platform of Saudi Arabia. In another instance, Zagzoog, a home appliance company, recently opened its first Kitchen Aid Showroom in the Kingdom of Saudi Arabia. Such launches and developments present significant growth opportunities for the Saudi Arabia home appliances market.

Challenges

Limited Domestic Manufacturing

Saudi Arabia home appliances market is highly dependent on imports due to lack of sufficient domestic production. The Gulf nation primarily imports home appliances from China, United States, and Japan, which causes price fluctuations. Additionally, situations such as COVID-19 pandemic or geopolitical tensions may also result in supply chain disruptions, which may negatively impact the growth of the Saudi Arabia home appliances market.

Saudi Arabia Home Appliances Market

Segmental Coverage

Saudi Arabia Home Appliances Market – By Type

Based on type, the Saudi Arabia Home Appliances Market is segmented into major appliances and small appliances. The major appliances segment is further classified into refrigeration equipment, cooking appliances, washing and drying equipment, heating and cooling appliances, and others. The small appliances segment is further bifurcated into coffee, food processors, humidifiers, microwaves, ovens, and others. The major appliances segment holds the largest share of the market. Many major appliances, such as refrigerators, washing machines, and televisions, are considered basic amenities. The increasing disposable income and launches of connected appliances are driving the growth of the major appliances segment.

Saudi Arabia Home Appliances Market – By Distribution Channel

Based on distribution channel, the Saudi Arabia Home Appliances Market is segmented into supermarkets & hypermarkets, specialty stores, online, and others (including convenience stores). The specialty stores segment dominates the Saudi Arabia Home Appliances Market. Several major home appliance brands, such as Samsung, LG, and Whirlpool, establish specialty stores for their products and offer various services, including maintenance services, which play a crucial role in driving market growth. However, the online segment is projected to register the highest growth rate during the forecast period.

Competitive Landscape

Major players operating in the Saudi Arabia Home Appliances Market include Bosch, Electrolux AB, Midea, Godrej Group, Gorenje Group, Haier, LG Electronics, Panasonic Corporation, Whirlpool, Philips, Hitachi, and Alessa Group. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In September 2023 – Fnac, a multinational retail chain based in France, announced its entry into the Saudi Arabian market with its development partner, Cenomi Retail.

Scope of the Report

By Type

• Major Appliances

1. Refrigeration Equipment
2. Cooking Appliances
3. Washing and Drying Equipment
4. Heating and Cooling Appliances
5. Others

• Small Appliances

1. Coffee Makers
2. Food Processors
3. Humidifiers
4. Microwave and Ovens
5. Others

By Distribution Channel

• Supermarkets & Hypermarkets
• Specialty Stores
• Online
• Others (Including Convenience Stores)

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Saudi Arabia Home Appliances Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rising Urbanization and Disposable Income
         2. Government Initiatives
         3. Focus on Convenience and Energy Efficiency
         4. Growing E-Commerce Market
      2. Restraints
         1. Limited Domestic Manufacturing
         2. Competition from International Brands
         3. Fluctuations in Oil Prices
      3. Opportunities
         1. Investments in Domestic Manufacturing
         2. Developing Innovative Products
         3. Increasing Demand for Premium Home Appliances
      4. Challenges
         1. Logistics Challenges
         2. Competition from the Used Appliance
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Saudi Arabia Home Appliances Market: Marketing Strategies
5. Saudi Arabia Home Appliances Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
      2. By Volume (Million Units)
   2. Market Share & Forecast
      1. By Type
         1. Major Appliances
            1. Refrigeration Equipment
            2. Cooking Appliances
            3. Washing and Drying Equipment
            4. Heating and Cooling Appliances
            5. Others
         2. Small Appliances
            1. Coffee Makers
            2. Food Processors
            3. Humidifiers
            4. Microwave and Ovens
            5. Others
      2. By Distribution Channel
         1. Supermarkets & Hypermarkets
         2. Specialty Stores
         3. Online
         4. Others (Including Convenience Stores)
6. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Saudi Arabia Home Appliances Company Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
7. Impact of Escalating Geopolitical Tensions in Saudi Arabia Home Appliances Market
8. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
   1. Bosch
   2. Electrolux AB
   3. Midea
   4. Godrej Group
   5. Gorenje Group
   6. Haier
   7. LG Electronics
   8. Panasonic Corporation
   9. Whirlpool
   10. Philips
   11. Hitachi
   12. Alessa Group
   13. Other Prominent Players
9. Key Strategic Recommendations
10. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       Saudi Arabia Home Appliances Segmentation

Figure 2       Saudi Arabia Home Appliances Market Value Chain Analysis       

Figure 3       Company Market Share Analysis, 2023

Figure 4       Saudi Arabia Home Appliances Market, By Value (USD Billion), 2019–2030    

Figure 5       Saudi Arabia Home Appliances Market, By Volume (Million Units), 2019–2030

Figure 6       Saudi Arabia Home Appliances Market Share, By Type, By Value (USD Billion), 2019–2030 

Figure 7       Saudi Arabia Home Appliances Market Share, By Type, By Volume (Million Units), 2019–2030 

Figure 8       Saudi Arabia Home Appliances Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Figure 9       Saudi Arabia Home Appliances Market Share, By Distribution Channel, By Volume (Million Units), 2019–2030       

List of Tables

Table 1        Saudi Arabia Home Appliances Market, By Value (USD Billion), 2019–2030    

Table 2        Saudi Arabia Home Appliances Market, By Volume (Million Units), 2019–2030

Table 3        Saudi Arabia Home Appliances Market Share, By Type, By Value (USD Billion) 2019–2030

Table 4        Saudi Arabia Home Appliances Market Share, By Type, By Volume (Million Units), 2019–2030 

Table 5        Saudi Arabia Home Appliances Market Share, By Distribution Channel, By Value (USD Billion) 2019–2030

Table 6        Saudi Arabia Home Appliances Market Share, By Distribution Channel, By Volume (Million Units), 2019–2030       

Table 6        Bosch Company Overview         

Table 7        Bosch Financial Overview         

Table 8        Electrolux AB Company Overview                 

Table 9        Electrolux AB Financial Overview                  

Table 10      Midea Company Overview         

Table 11      Midea Financial Overview         

Table 12      Godrej Group Company Overview                

Table 13      Godrej Group Financial Overview                 

Table 14      Gorenje Group Company Overview               

Table 15      Gorenje Group Financial Overview               

Table 16      Haier Company Overview         

Table 17      Haier Financial Overview          

Table 18      LG Electronics Company Overview               

Table 19      LG Electronics Financial Overview                

Table 20      Panasonic Corporation Company Overview             

Table 21      Panasonic Corporation Financial Overview              

Table 22      Whirlpool Company Overview             

Table 23      Whirlpool Financial Overview              

Table 24      Philips Company Overview                 

Table 25      Philips Financial Overview         

Table 26      Hitachi Company Overview                 

Table 27      Hitachi Financial Overview                 

Table 28      Alessa Group Company Overview                 

Table 29      Alessa Group Financial Overview